Taipei in talks on US tariffs, stacking

Although an agreement has not been reached with Washington, lowering the tariff from 32 percent to 20 percent is still progress, the vice premier said.Taiwan would strive for a better US tariff rate in negotiations, with the goal being not just lowering the current 20-percent tariff rate, but also securing an exemption from tariff stacking, Vice Premier Cheng Li-chiun said yesterday.

Cheng made the remarks at a news conference at the Executive Yuan explaining the new US tariffs and the government’s plans for supporting affected industries.

US President Donald Trump on July 31 announced a new tariff rate of 20 percent on Taiwan’s exports to the US starting on Thursday last week, and the Office of Trade Negotiations on Friday confirmed that it would be stacked on top of existing levies.

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